Strong financial results and an accelerating shift toward a diversified financial services model defined Access Holdings Plc’s latest performance update, as the group reported a profit before tax of N1.007tn alongside continued expansion in its balance sheet.
The company, Access Holdings Plc, disclosed the figures at its fourth Annual General Meeting on Wednesday, highlighting both scale and structural transformation across its banking and non-banking businesses. Total assets rose to N51.56tn, supported by strong customer deposit growth, a signal of sustained franchise strength and widening market confidence.
The results, however, were presented alongside a deliberate emphasis on prudence and long-term positioning rather than short-term gains.
Speaking at the AGM, Chairman Aigboje Aig-Imoukhuede underscored the group’s philosophy on sustainable performance, stating: “the defining test of a financial institution was not merely its capacity for growth, but its ability to grow profitably, sustainably, and with discipline over time.”
He explained that the 2025 performance reflected a conscious strategy to reinforce the institution’s fundamentals while maintaining profitability in a challenging environment. A key part of this approach was the accelerated recognition of legacy exposures and the exit from regulatory forbearance positions, which led to elevated impairment charges during the year.
According to him, this was a strategic trade-off. “Periods of volatility often reveal more about an institution than periods of uninterrupted growth. Our focus remains on building a business that is not only growing but improving in the quality and sustainability of its earnings,” he said.
The chairman also emphasized that the group’s evolution is increasingly anchored on a broader financial ecosystem beyond traditional banking. New and expanding verticals—including Access ARM Pensions, Access Insurance Brokers, Oxygen X Finance, and Hydrogen Payments—are becoming more prominent contributors to earnings diversification, digital expansion, and consumer-focused financial services.
This shift is supported by what the group describes as an “ideas-to-ventures” model, aimed at converting innovation pipelines into scalable businesses. It reflects a strategic ambition to reposition Access Holdings not just as a large banking group, but as a multi-platform financial services institution.
Looking ahead, Aig-Imoukhuede described the direction of travel as a natural evolution of its strategy, stating: “The Strategy, From Scale to Value, reflects the natural evolution of our journey. Scale created opportunity, value creation is how we fully realise it.”
He further noted that improving shareholder returns remains a central objective, particularly by narrowing the gap between returns and cost of equity. He also acknowledged that the group holds significant unrealised value in its international subsidiaries, with efforts ongoing to enhance market recognition of those assets.
On capital distribution, the board addressed shareholder concerns about dividends, clarifying that non-payment was linked to regulatory alignment within the banking subsidiary rather than a reflection of weak earnings capacity. The chairman assured investors that dividend payments would resume once supervisory conditions allow, reinforcing a longer-term capital preservation approach.
Leadership continuity was another key theme at the AGM. The group confirmed the appointment of Innocent Ike as Group Managing Director/Chief Executive Officer, while strengthening its board with the addition of Independent Non-Executive Director Ibironke Adeyemi. These changes, according to the chairman, were executed to ensure stability and strategic consistency.
Aigboje Aig-Imoukhuede also reiterated the institution’s commitment to sustainability initiatives, including financial inclusion, SME support, and investments in education, the creative economy, and social development programmes.
Despite macroeconomic pressures, the group expressed confidence in its outlook, citing disciplined execution, diversified earnings streams, and a stronger capital base as key buffers.
Concluding his remarks, Aig-Imoukhuede stated: “Our responsibility is to justify the confidence of our shareholders by building an institution that endures, one defined by clarity of purpose, discipline of execution, and sustainable value creation over time.”